Core EPS definition
Examples of Core EPS in a sentence
Core ▇▇▇ and Core EPS Growth performance will receive equal weighting.
The actual number of shares of Stock to be issued to the Grantee will vary depending upon the Corporation’s performance during the Performance Measurement Period with respect to core return on equity (“Core ▇▇▇”) and core earnings per share growth (“Core EPS Growth”) relative to Core ▇▇▇ and Core EPS Growth for the same period by the Peer Group.
Notwithstanding the foregoing, if relative performance for either the Corporation’s Core ▇▇▇ or Core EPS Growth is less than the 25th percentile relative to the Peer Group’s, the Award will be forfeited.
The Corporation’s relative performance ranking in Core ▇▇▇ and Core EPS Growth in each calendar year in the Performance Measurement Period will be averaged to determine the actual number of shares of Stock, if any, to be issued to the Grantee pursuant to the following table: Corporation’s Performancevs.
For the avoidance of doubt, if on or before March 31, 2018 the Grantee’s employment is involuntarily terminated or if Grantee resigns without satisfying the conditions of Normal Retirement or Early Retirement, the Grantee shall forfeit the Restricted Share Units even if the Committee certifies that the Core EPS Goal is achieved.
Share Units shall vest in full upon the occurrence of a Change in Control notwithstanding Section 2.1’s provision for the Committee’s certification of the achievement of the Core EPS Goal.
The actual number of shares of Stock earned by the Grantee (the “Earned Shares”) will vary depending upon the Company’s performance during the Performance Measurement Period with respect to core return on equity (“Core ▇▇▇”) and core earnings per share growth (“Core EPS Growth”) relative to Core ▇▇▇ and Core EPS Growth for the same period of the Peer Group.
The level of vesting, and the designated compound annual growth rates to achieve the Core EPS Goal, are set forth on Exhibit A attached hereto.
As used herein, “Core EPS Goal” means an increase in Ending Core EPS (defined below) over Beginning Core EPS(defined below) at a compound annualized growth rate designated by the Committee.
At the end of the Performance Period, if Core EPS is less than $[ · ], the Performance Units awarded under this Award Agreement shall be forfeited and no longer considered outstanding or to be held by the Employee as of the close of business on the date on which the Compensation Committee certifies that Core EPS is less than $[ · ].